Protect AI, the San Diego protection tech startup that builds drones and different AI-powered navy techniques, has raised a $240 million spherical at a $5.3 billion valuation, it introduced as we speak.
Protect AI says its Hivemind software program already allows fighter jets and drones to fly autonomously. Now, Protect AI desires to promote Hivemind to a broader vary of shoppers like robotics corporations.
The spherical’s traders embrace L3Harris, one of many U.S.’s greatest protection contractors, and Hanwha Aerospace. Present traders like Andreessen Horowitz additionally joined.
This makes Protect AI the second-largest protection tech startup within the U.S. by valuation, after Anduril, which is elevating at a $28 billion valuation.
Autonomy is a scorching subject in protection, with autonomous warship startup Saronic quadrupling its valuation to $4 billion in a $600 million spherical final month.
Protect AI didn’t instantly reply to a request for remark.
